The Game with Alex Hormozi - The 4 Highest Value Skills That Exist On Earth | Ep 353

Episode Date: December 14, 2021

The more mastery, the merrier! Today, Alex (@AlexHormozi) talks about the 4 scarcest highest skills that billionaires practice, and how they can help you with many aspects of your life and bring wealth to your business!Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.Timestamps: (1:49) - Raise and multiply money. Capture and multiply attention.(3:53) - Return time to others. Make systems efficient for business.(5:50) - Influence behavior at mass scale. No cost to change minds.(7:47) - 4 skills: labor, capital, time, media. Leverage for goals.(9:34) - Skills compound with exponential growth in the long term.Follow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

It is the cornerstone upon which every single top 100 or even top 50 billionaire has built their wealth. Welcome to the game where we talk about how to get more customers, how to make more per customer, and how to keep them longer and the many failures and lessons we have learned along the way. I hope you enjoy and subscribe. In this video, I'm going to walk you through the four scarcest, highest value skills that exist on earth. It is the cornerstone upon which every single top 100 or even top 50 billionaire has built their wealth. And before I dive in, just as a heads up, if you're new to the channel, my name's Alex Somozy. I own Acquisition.com.

It's a portfolio of companies that is about $85 million a year. All right, the reason I make this channel is a lot of people are broke and I don't want to be one of them. All right. So, let's dive in. Before we get into each of the four skills, all right, an important distinction I need to make here is that when I'm saying these are these scarces skills, it is because of two major things. One is that the assumption is that we are doing these skills at maximal scale, all right? Number one. And number two is that these skills.

are not binary skills. It's not I have it or I don't have it, but it's to what extent do I have it or to what degree do I have it? How masterful am I in this skill? All right? And so these are the four skills that exist and you will see a clear corollary between the four ways to create leverage. All right? So the first and easiest one for everyone to understand, and that's why I'm going to start with it, is the ability to raise and multiply money, which means you have these skill of getting money from other people and you can allocate that money in a way that it multiplies at a higher rate than anything else right if you have that skill you can create endless unlimited fortunes all right and again at scale which means you can get lots of money

and you have and you can handle mass massive sums of money and you can multiply it because of how good you are at the skill all right so that is scarcest high value skill number one these are not an order. These are just the top four. Any of these four, if you have them, can build you to a billion dollars plus. All right. Number two is the ability to capture and multiply attention. All right. And so think about a Joe Rogan, for example, right? He's able to build this empire that he has because he's able to capture attention and multiply attention, which is a function of media. Mark Zuckerberg, he was able to capture attention, get people. able to look at his app and then tell their friends, multiply attention, right? And so the ability

to capture and multiply attention is the second scarce and high value skill that exists. So right now, if you're not making the money that you want to make or you were poor, it's because you're usually not allocating your time to the highest value, scarcest skills that exist. And oftentimes, these skills are not skills that can be taught, but there are skills that can be learned, which is a quote that got from Navalovacan, which I like a lot. And oftentimes, you'll note that it's not just one component of this. It's not just being able to raise money. It's being able to also allocate it and multiply it. It's not being able to just capture attention. You have to be able to use that attention to then multiply the attention on its own organically at no incremental cost.

All right. That's the key point is that you have to be able to multiply it at no incremental cost to you. That's how you get unlimited leverage. Number three, and this is one that a lot of people are going to trip up. So I'm probably say this a couple different ways. the ability to return time to other people at no incremental cost to yourself at scale. So, for example, if I can save everyone on planet Earth 10 minutes every day, I will be a billionaire. Think about that. And so the way to deconstruct that is to think, what is something that lots of people spend time on? Is there a way that I can automate this?

And again, zero incremental cost, which means this is often going to be some sort of technology or software, solution. No incremental cost to me, which means that if I build this thing one time, I can save everyone time forever. That is a way to build a fortune. That is a way to build billions and billions of dollars of wealth. That is scarce, high value skill number three. So you can return time to other people. You can decrease the effort to sacrifice that they experience in their lives that they do not want to experience. And because it's at no incremental cost, you can sell that thing to everyone because everyone will pay something for their time. Now, the amount may be, you know, widely vary. But if it costs you almost nothing, you can capture an entire marketplace by giving them time back.

What did Google do? Gave everyone time back. Now, they obviously multi, they monetize through advertising, but everyone was looking for something. Normally it would take longer to look for something. and then they consolidated it in one place. They saved everyone time. Real quick, guys, if you can think about how you found this podcast, somebody probably tweeted it, told you about it, shared it on Instagram or something like that. The only way this grows is through word of mouth.

And so I don't run ads. I don't do sponsorships. I don't sell anything. My only ask is that you continue to pay it forward to whoever showed you or however you found out about this podcast that you do the exact same thing. So if it was a review, if it was a post, if you do that, it would mean the world to me

and you'll throw some good karma out there for another entrepreneur. Number three. The fourth, high value, scarcest skill on planet Earth is to be able to influence the behavior of others at mass scale at no incremental cost to you. So you look at someone like Jesus or any profit. I'm not saying he's a prophet. That's not my point here. My point is if you look at the mass leaders, probably shouldn't even brought it up. Otherwise people get triggered. point is that there are people who have walked this earth, Thomas Jefferson, you know what I mean? People who have had massive influence over other people and their subsequent behaviors they take as a result. And so this is the ability to change people's minds. If you can help people change their beliefs and change their thoughts, you will change the way they behave. Which is why when people come to a new faith, all of a sudden you see this.

massive change in behavior. It's because the operating system and the lenses through which they see the world, the perspectives that they weigh their judgments using have shifted. And so if you change the decision-making calculus, you change all of the downstream behaviors that happen as a result. And if you can do this in concert at scale, you can A, change the world, but B, you can also make a ton of money. All right? And so if you look at the best persuaders of our era, They're ones who, for them, I would argue, aggregated power, because some people at a certain point, you run out of needs for money. You start looking for power. And so if you have the ability to massively influence other people at scale, at no incremental cost to you, you have the fourth, scarce, high value ROI skill that exists.

So right now, Mosey Nation, would it do? If you're looking for ways to increase your wealth, you can see that all four of these things are corollary to the four types of leverage that exist. These are how fortunes are created. Leverage number one is on labor and actions on behalf of other people towards your goals. So other people do stuff for you. That was the fourth one, the one I just mentioned. All right, that's around labor, work, and basically actions other people take. When I talked about money multiplying, right, that is leverage using capital.

So the ability to maximally raise and multiply capital at scale is a high value scale. The third is being able to give people their time back. What we're talking about, this is a good friend of mine who's a technologist, he says all technology automates luxury. And luxury is typically a function of convenience, effort, and sacrifice. And so we look at the places where people spend time and spend effort and sacrifice and we return it back to them at no incremental cost. That is how you create scale using technology. All right. And the key resource for giving people back is time. Right. And then the fourth and final one is media. All right. And so using media and being able to multiply media via the capturing and multiplication of attention because ultimately media is,

media is just the substrate through which impressions are conveyed to other people signals that they are interpreting through their senses. The idea is how can we capture as many senses as we can and then get those senses to get other people plugged into our thing. And then in so doing, it will compound. And so one of the key notes to note about each of these four things that I just mentioned is that each of these skills compound. They are not multiplicative. They are not additive, they are not incremental, they are compounding, which means they are exponential in nature. A lot of people say it's an exponential growth. They don't even know what exponential means, but it means that it multiplies unto itself and then each time it multiplies itself bigger

upon itself, not just like we two X every year, but it would have to be when we incrementally go 10%, 10%, 10% growth, that is where it's compounding. And each of these, in the form of labor, people are influenced people tell other people people tell other people they do the thing for you and it compounds with capital the money that you multiply gets you more money which you then multiply it compounds the time you save people more time which then gets you more people to save time for and it compounds with attention you capture the attention you multiply the attention because those people tell other people and then the attention comes back and so each of these are quadratic in nature in terms of the skills and those my friends or you focus your time if you want to create a fortune.

And so you can look at your skill set right now and say, which of these skills do I lack? Or which of these four buckets? Am I currently at least working somewhat directionally towards? And then we can again think this is not a binary checklist. If I have the skill or I do not have the skill, but to what degree, to what extent am I a master of this thing? And so lots of love, Mosey Nation.

Keep being awesome. I make this channel because a lot of people are broken. I don't want to be one of them. I think I said this earlier, but my name's Alex Ramsey. ownacquisition.com, you know, all the dollars, things like that. And I'll see you guys next video. Bye.